Pocketknifes provided with honing devices incorporated therein for sharpening are old in the art. Specifically, the prior art discloses incorporating a hone in a recess formed in the exterior surface of the handle from which it can be removed for sharpening purposes. Structures of this kind are shown in U.S. Pat. Nos. 187,483; 1,232,886; 1,299,173; and 2,658,272. Heissenberger U.S. Pat. No. 927,533 shows a pocketknife wherein one side of the handle provides the hone and is pivotally connected at one side to the other side and removable therefrom to enable its use for honing purposes. Young U.S. Pat. No. 1,208,435 and Kjorsvik U.S. Pat. No. 2,416,929 show honing devices incorporated in the blade chamber so positioned that movement of the cutting blade into and out of the blade chamber effects sharpening of the blade. The structures shown in the aforesaid patents require undesirable modification of the knife handle to accept the honing devices. It is the purpose of this invention to provide a pocketknife structured to provide for sheathing the honing blade, together with the cutting blade in the blade chamber, without alteration of the handle and to permit easy removal of the honing blade for honing purposes and restoring it when not needed.